Renewable Energy: The Rise of Emerging Markets
Beyond Conventional Wisdom Emerging markets carry a persistent reputation: that of economies dependent on a dirty energy mix, largely dominated by coal and hydrocarbons. Under this view, the energy transition is seen as a luxury for developed countries. Emerging economies would supposedly get there later, once their development cycle is complete. The facts tell a […]
Active Management Initiative
Hormuz: when geopolitics reshuffles the energy asset map
Energy: From Market Shock to the re-ranking of projects and capital Summary Hormuz is not merely a price shock: it is a supply security stress test. When geopolitical risk materializes, decision-makers think in terms of robustness, and this can re-rank projects and redistribute capex. Origin risk is likely to become durably embedded in investment decisions. […]
The “Donroe Doctrine”: towards a new cartography of Latin America?
Executive Summary Background Initially branded the “Trump Corollary,” the administration later adopted the term “Donroe Doctrine” coined by the press. Predicated on “America First” principles, Donroe seeks to prevent economic and political influence from other global powers—particularly China, Russia, and Iran. The policy leverages economic mechanisms to shape political outcomes, advance government and corporate interests, […]
Focus on Short Duration Bonds in Emerging Markets
Maximizing Carry while Minimizing Sensitivity to Rates and Spreads “In an environment where the credit spread curve has flattened, longer-maturity bonds no longer offer sufficient additional yield to compensate for their higher sensitivity to market movements.” Emma Otmani, CFA – Junior Portfolio Manager at IVO Capital Partners IVO Capital Partners’ View In the emerging market […]
Evolution of the Emerging Markets Trade Landscape
Evolution of the Emerging Markets Trade Landscape: The Rise of China and the Growth of South-South Trade Summary: Chart 1: Evolution of Emerging Markets Trade Flows Evolution of the Emerging Markets Trade Landscape Chart 2: Number of Countries Trading more with China than with the United States In 2000, the United States was the primary […]
Litigation financing, a strategic asset class
Argentina’s fiscal rehabilitation
Synthesis The country, previously in default, revived investor hopes with the election of a controversial libertarian president, Javier Milei. However, his ambitious fiscal program has run into familiar obstacles, including political turmoil and corruption scandals, which have quickly eroded investor confidence and once again hampered economic activity. Increased volatility emerged following the heavy defeat of […]
The postal code effect or the mispricing of emerging markets: a field of opportunities hidden by the sovereign ceiling
The postal code effect or the mispricing of emerging markets: a field of opportunities hidden by the sovereign ceiling Identifying opportunities under the ceiling: Emerging market mispricing caused by the sovereign ceiling “Identifying and exploiting market dislocations caused by sovereign rating caps provides a distinct source of alpha and illustrates the type of market inefficiency […]
Evolution of the Emerging Markets Trade Landscape
“The current dynamic in emerging markets is not one of disruption, but of diversification—a subtle evolution from dependence towards balance.” Vikky Chen – Credit Analyst at IVO Capital Partners Evolution of the Emerging Markets Trade Landscape: The Rise of China and the Growth of South-South Trade Summary: Chart 1: Evolution of Emerging Markets Trade Flows […]